Changes to National Insurance
Employees, employers and the self-employed will all pay 1.25p more in National Insurance (NI) for every pound they earn from April 2022.
A new rise in National Insurance will see employers, employees and the self employed pay an extra 1.25p in National insurance for every £1 they earn from April.
This means that an employee earning £20,000 a year will pay an additional £130 while those earning a £50,000 per year salary will have to pay an extra £505.
This will not apply to those who earn under £9,564 a year (£797 per month) as they don't need to pay National Insurance. The new levy will, however, apply to those at and above the pension age.